What do I need to know
 

Howdy Everyone,
My wife and I are looking at a 1989 Volvo 760Turbo for 3500.00. It has a Volvo reman engine with 50K miles on it, we were told it cost 5K to replace. The total miles on the vheicle 260K. The fellow who has it has maintenace records from the beginning. It is in good condition. My questions are:
How long is the actual tubro good for? What do they cost to replace? How reliable are Volvo transmissions. This one still has the original transmission on it. What are specific things I should look for and ask regarding this type of Volvo?
Being aware of the risk associated with high mileage, is 260K high for a Volvo and is the price to high? I ask this in relationship to a Toyota or Honda having in excess of 150-200K miles on it (did that make sense?). Any help or advice will be greatly appreciated.
Take care and have a good day,
Craig